Money laundering regulations 2017 summary: Estate agents and AML compliance

The relevant regulations are in the form of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, quite a mouthful. Most notably, these regulations introduced a key change requiring due diligence checks to be undertaken by agents on both the buyer and the seller . Agents are required as a bare minimum to obtain and hold identification documents and proof of address for all "customers."

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